Gold and silver opened slightly higher on Wednesday, reflecting steady demand and positive global cues. The price of 24-carat gold moved up by ₹10, bringing it to ₹1,27,050 per 10 grams. Silver also saw a mild rise, gaining ₹100 to trade at ₹1,67,100 per kilogram.
The increase wasn’t dramatic, but it shows that buyers are slowly returning to precious metals as expectations grow that the US Federal Reserve may cut interest rates in December. Lower interest rates typically make gold more attractive since it becomes easier for investors to shift money into safe-haven assets.
In the 22-carat category, gold was priced at ₹1,16,460 per 10 grams. Rates varied slightly across major cities: Mumbai and Kolkata saw 24-carat gold at ₹1,27,050, while Chennai quoted a slightly higher price of ₹1,27,870.
Overall, the market remains cautious but optimistic, with traders watching global economic signals closely. Precious metals could see more movement in the coming weeks depending on how rate-cut expectations evolve.